Axie Infinity Sets Record-Breaking $4 Billion In NFT Sales

Christian Encila

3 years ago

2 mins read

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Axie Infinity, the Ethereum-based video game, continues to amaze its fandom over the last year.

Despite some hiccups, the play-to-earn game is relentless. In fact, it just made quite a bit of a noise this week after the Sky Mavis project snagged nearly $4 billion in all-time NFT revenues.

The in-game currency of the P2E pet training universe, AXS, has appreciated by 2,544% against the US dollar during the last 12 months.

On the other side, Smooth Love Potion (SLP) has had a less lucky year, with its value decreasing by 70% year to date.

Metrics show that there are currently 53,502 AXS token holders and 45,276 Axie owners out of 166,870 Axies.

Axie Infinity: Price Analysis

According to 24-hour Axie NFT sales numbers, the project has received $2.2 million in transactions from 17,731 buyers.

While Axie is third all-time in terms of sales, it is fourth in terms of 24-hour sales and fifth in terms of the previous seven days.

Last month, Axie placed eighth out of 10 projects in terms of 30-day NFT sales.

According to the most recent market figures, the average selling price of Axie Infinity as of Monday, Feb. 21, 2022, is $55.53, up 7.1% from the previous day’s low of $50.30 to a high of $56.14.

AXS total market cap at $3.17 billion in the daily chart | Source: TradingView.com

Additionally, on Nov. 6, 2021, Axie Infinity reached an all-time high of $164.90. In comparison, it reached an all-time low of $0.123718 on Nov. 6, 2020.

Despite the fact that cumulative Axie Infinity NFT sales have surpassed the $4 billion mark, sales fell 40.58 percent last week.

Axie Infinity has processed $19,815,670 in orders via the Ronin blockchain in the most recent weekly data.

Metaverse Real Estate Prices Up

Last week, Axie NFTs had a total of 267,906 transactions, including 91,940 buyers.

Meanwhile, the value of metaverse properties has surged in tandem with rising interest in blockchain-based virtual world projects such as Decentraland, The Sandbox, Illuvium and Axie Infinity.

Land in the Metaverse, as well as flats, penthouses, and mansions, have been selling for between $4 and $7 million.

The Webbland Project, which advertises itself as an interconnected pixel metaverse, has generated $3.6 million in revenues over the last seven days, an increase of 126.24% over the previous week.

Webbland is similar to The Sandbox and Decentraland in that it allows users to own land, equip it with NFTs, complete quests, and explore.

Webbland has surpassed Farmers World to claim the 33rd rank in terms of seven-day sales in the recent week, falling just short of Sheet Fighter.

Featured image from CoinGecko, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.